When Studying Economic Data,and When Comparing the Magnitude of Changes

question 128

Multiple Choice

When studying economic data,and when comparing the magnitude of changes in variables with different scales it is best to

• A)compare the absolute data on each variable.
• B)compare the relative data on each variable.
• C)express each variable as an index number.
• D)express each variable as a logarithmic number.
• E)use only time-series data.

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Definitions:

Reasonable Understanding

A standard determining what a typical person would comprehend in a given set of circumstances.

Apparent Authority

The seeming authority that a principal has granted to an agent, leading a third party to reasonably believe the agent has such power.

Actual Authority

The express or implied power granted by a principal to an agent to act on the principal’s behalf.

Borg

A fictional collective from the "Star Trek" universe that assimilates species and technologies to achieve perfection.